Lean marketing is an agile, diverse marketing strategy. This marketing approach leverages consumer demand by deploying a series of small, low-budget, targeted marketing attempts to see which succeed, then developing one's market strategy in light of this knowledge. Lean marketing begins with what traditionally would have been seen as the end: deploying a marketing strategy. This method was designed to deal with the realities of modern media, where change is the norm, and where consumers - especially in the key demographics - are used to having media tailored to their demands.
Basic Steps of Lean Marketing
- Experiment. Develop and deploy a variety of marketing strategies. Think outside the box. You never know what will work - and won't - until you try. That is the point of the lean marketing method.
- Quantify. Analyze responses objectively. Utilize a combination of diverse analytic tools such as surveys and click-through data to find out what is working, and why.
- Respond. Rely on the data obtained from the experimental strategies to refine your campaigns and to decide how to invest your marketing budget. Use these results to shape your marketing strategy going forward.
- Return to Step 1. This is an iterative process. That means you keep refining your strategies until you've hit your goals and your campaign is successful.
Why You Need a Third-Party Perspective
In each of the above steps, businesses really need an affordable third-party perspective to benefit from lean marketing campaigns. This fast-paced strategy requires expert knowledge and the ability to act now, before the gathered data becomes stale. A third party with expertise in marketing strategies can:
- Suggest test marketing strategies that you may not have heard of, which have proved successful in the past for similar ventures.
- Provide useful analytic tools and wade through the available data, with a detached perspective.
- Develop agile, targeted marketing strategies on-the-fly, based on consumer response.
You know how to run your business, and you know your customers. Palomar knows marketing. For more information on lean marketing, and what marketing strategies will work within your budget, to the best benefit for your business, contact us today.